Insider Selling: Accelerant (NYSE:ARX) Director Sells $10,634.04 in Stock

Accelerant Holdings (NYSE:ARX) Director Karen Sue Meriwether sold 542 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $19.62, for a total transaction of $10,634.04. Following the completion of the sale, the director directly owned 20,868 shares in the company, valued at $409,430.16. This trade represents a 2.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Accelerant Trading Up 0.1%

Shares of ARX opened at $19.69 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.53 and a quick ratio of 1.53. The firm has a 50 day simple moving average of $14.46 and a 200-day simple moving average of $13.59. Accelerant Holdings has a 1-year low of $9.18 and a 1-year high of $28.40. The stock has a market cap of $4.28 billion and a price-to-earnings ratio of -2.96.

Accelerant (NYSE:ARX) last issued its quarterly earnings data on Thursday, August 13th. The technology company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.16. The firm had revenue of $356.90 million during the quarter. Accelerant had a positive return on equity of 42.79% and a negative net margin of 113.08%. Equities analysts forecast that Accelerant Holdings will post 0.9 EPS for the current fiscal year.

Institutional Trading of Accelerant

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Militia Capital Management LLC purchased a new stake in Accelerant during the first quarter worth approximately $2,004,000. Renaissance Technologies LLC lifted its holdings in shares of Accelerant by 280.5% during the 1st quarter. Renaissance Technologies LLC now owns 276,600 shares of the technology company’s stock valued at $3,695,000 after acquiring an additional 203,900 shares in the last quarter. UBS Group AG boosted its position in Accelerant by 331.9% during the 4th quarter. UBS Group AG now owns 535,637 shares of the technology company’s stock worth $8,758,000 after purchasing an additional 411,612 shares during the period. Azora Capital LP boosted its position in Accelerant by 288.9% during the 4th quarter. Azora Capital LP now owns 2,439,094 shares of the technology company’s stock worth $39,879,000 after purchasing an additional 1,811,976 shares during the period. Finally, Jefferies Financial Group Inc. increased its holdings in Accelerant by 349.8% in the 4th quarter. Jefferies Financial Group Inc. now owns 44,980 shares of the technology company’s stock valued at $735,000 after purchasing an additional 34,980 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. BMO Capital Markets increased their price objective on Accelerant from $16.50 to $17.00 and gave the company an “outperform” rating in a research note on Tuesday, June 16th. Morgan Stanley reduced their target price on shares of Accelerant from $16.00 to $14.00 and set an “equal weight” rating on the stock in a report on Monday, July 6th. Citigroup lowered shares of Accelerant from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 13th. Royal Bank Of Canada downgraded shares of Accelerant from a “moderate buy” rating to a “hold” rating and set a $20.25 price objective on the stock. in a research note on Friday, August 14th. Finally, Piper Sandler lowered shares of Accelerant from an “overweight” rating to a “hold” rating and set a $20.25 target price on the stock. in a research report on Thursday, August 13th. Four investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $18.95.

Accelerant Company Profile

Aeroflex Holding Corp. (Aeroflex Holding) is a provider of radio frequency (RF) and microwave integrated circuits, components and systems used in the design, development and maintenance of wireless communication systems. The Company’s solutions include microelectronic components and test and measurement equipment used by companies in the space, avionics and defense; commercial wireless communications, and medical and other markets. Its products include a range of RF, microwave and millimeter wave microelectronic components, integrated circuits (ICs), and analog and mixed-signal devices.